Nicholas Investment Partners LP boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 24.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 31,897 shares of the financial services provider’s stock after purchasing an additional 6,174 shares during the period. Nicholas Investment Partners LP’s holdings in JPMorgan Chase & Co. were worth $4,639,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P boosted its position in JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the period. BCK Partners Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $2,455,000. LSV Asset Management boosted its position in JPMorgan Chase & Co. by 35.6% in the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC boosted its position in JPMorgan Chase & Co. by 70.8% in the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC boosted its position in JPMorgan Chase & Co. by 1,451.4% in the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after buying an additional 3,527 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the transaction, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Stock Up 0.9 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the company earned $3.12 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is 25.07%.
Wall Street Analyst Weigh In
JPM has been the subject of several recent research reports. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Finally, Jefferies Financial Group decreased their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.80.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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